Throughout the Insurance Act of Ontario, there is a general theme that claimants should not be allowed to recover the same financial loss from two different sources.
This principle against double recovery goes hand in hand with the Ontario accident benefit system and how it interacts with the right to sue at-fault drivers (known as your tort rights).
In short, the legislation provides that damages in your tort claim will be reduced by your accident benefit entitlement and, as a result, the value of your tort claim varies with the extent of your accident benefit entitlement.
Even without this interplay between the tort system and the accident benefit system, calculating the value of your accident benefit entitlement and the value of a tort claim are complicated tasks. Experts are customarily retained to conduct this complicated analysis which involves calculating the present value of a number of anticipated losses and needs on the part of the accident victim. In relatively large, complicated, catastrophic claims the process of properly assessing the claims can be very daunting.
To resolve this problem, a new product is now available to help lawyers, insurance adjusters and rehabilitation consultants calculate the value of a tort claim and the present value of future care costs.
The software has knowledge of both the current Bill 198 Ontario motor vehicle scheme as well as the former Bill 59 Ontario motor vehicle scheme.
The software was developed by Darcy Merkur, one of our Partners who practises personal injury law with us. The software is an easy to use Excel program that is designed for even the most novice Excel users. The Personal Injury Damages Calculator is now available through Carswell.